What investments do you plan to make in the first quarter of 2018 to improve your business?
These responses are provided by the Young Entrepreneurs Council (YEC), an invitational organization of the most promising young entrepreneurs in the world. YEC has also launched BusinessCollective, a free virtual mentoring program that helps millions of entrepreneurs start and grow their businesses.
1. Great people
In 2018, we will continue to invest in our strategic vision and commitment to hiring the best people. Then we will stay away while they execute that same vision. I focus my time mainly on strategy and recruiting the best employees in the company. Without these people, we will never be a big company.
– David Greenberg, update
2. Creativity of employees
Each year, I dedicate a month in the first quarter to employees developing new media products according to their own tastes, with few restrictions. Each year, new products come out of this exercise and the pride of the group increases enormously. Encouraging creative individuals to do more of what is meaningful to them produces an authentic result brimming with emotional value.
– Carmine Silano, Music CheerSounds
3. Team Building
A great company starts with an incredible team of people to support their services or products. I work to develop a really strong team by learning about their urges, desires, what motivates them and excites them, and what they need help with. The first quarter is a good time to hire and invest in your team.
– Rachel Beider, massage at Greenpoint
4. Best HR Technology
The beginning of the year is an excellent opportunity to integrate workflows into sophisticated systems. Many HR departments are still behind on this point, or do not maximize the functionality of the tools that exist in the space. With my extra time this quarter, I will try to migrate the old school processes into a more streamlined and paperless workflow.
– Logan Lenz, Coin Market
5. Mobile Technology and Experiments
I can not say it enough: everything is mobile. By 2020, desktop computers will be just for work. Everyone uses mobile devices, phones and tablets for everything. If you are reading this, and by 2020 you have not made any significant investments in technology or mobile experiences, then you have missed the train on your own.
– Ali Mahvan, Sharebert
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6. Live Chat
We’re investing in live chat this year to test and measure the ROI of some of our SaaS products. We recognize that customers have many options and we want to make the decision process as easy as possible for them. Having a live chat means you do not have to spend hours on the phone waiting for customer service. It’s just a quick question.
– Syed Balkhi, OptinMonster
7. Security Audit
Cybersecurity is the most important issue that most companies completely neglect. Every year, we conduct an audit of equipment and safety and investigate new suppliers to meet our needs, as needed. In addition to providing adequate protection for our customers’ data, having a good security protocol is a way to differentiate your business from the ones that are not.
– Ryan Bradley, Koester and Bradley, LLP
8. Public Relations
I learned by leading an online business that major publication links increase search engine rankings more than any other type of link. It is not easy to put yourself and your company at ease, even if the reward is worth it. I have written a book that I intend to use to generate positive public relations this quarter.
– Brian Greenberg, Pure Blue Life Insurance, Inc
2017 was the year of the creation of software, content and SEO authority. In order to further develop these channels, we need to be able to track and measure performance. A priority for 2018 is to connect to analytics and conversion tracking. We are investing in hiring an external analysis professional to check our current systems and create an appropriate conversion tracking solution.
– Ajay Paghdal, OutreachMama
10. Evolving Sales Processes
This year, my goal is to get out of the chaotic and entrepreneurial sales process and to set up a highly systematic and evolving sales process. I’ve recruited a new COO and a senior business consultant to make sure we can build a predictable sales process and allow us to move from three vendors to over 20 sales machines in 2018.
– Brandon Harris, NuMedia
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11. New office
We are moving into a new office that will include a shared workspace and glazed offices for client meetings. The goal is to renew our commitment to internal collaboration because we are literally removing walls between departments.
– Brandon Bruce, overview of Cirrus
12. New office furniture
As most of our office furniture is more than five years old, I decided to update the entire office, including computers, printers and scanners this quarter.
– Kristin Marquet, Creative Development Agency, LLC
13. Retirement from the company
A multi-day retreat with the team to set strategy and vision for the new year can be one of the best investments of time and money. Not only does this allow everyone to realign themselves, but it also helps to ensure that all other projects or investments are known to the team and evaluated on how well they are doing. integrate into the global vision of the year.
– Ross Beyeler, Growth Spark
14. Personal Health
This year, I plan to invest more in my health. I realized that spending hours on the computer is great for business but not always for my health. I invested in an ergonomic chair and a standing desk to help me maintain my posture during the work day. I also plan to spend more time hiking outdoors, training and eating healthier.
– Jared Atchison, WPForms